The Argentine Central Bank issued Communication ‘A’ 7724, which updated the technology and information security risk standards to strengthen the cyber resilience of financial institutions. The Communication will become effective on 6 September 2023.

By means of Joint General Resolution 5271/2022 of the Argentine Tax Authority and the Trade Secretariat published on 11 October 2022: (i) the Import System of the Argentine Republic and the Import System of the Argentine Republic and Payment of Services Abroad systems were implemented; (ii) the Import Information and Monitoring System and the Integral System for Monitoring Foreign Payments of Services were terminated; and (iii) the Single Current Account for Foreign Trade was created.

By means of Decree 679/2022, dated 10 June 2022, the Executive Power created the Promotion of Investments for Exports of Knowledge Economy Activities Regime, and incorporated benefits for those registered in the National Registry of Beneficiaries of the Promotion of the Knowledge Economy Regime provided by Law 27,506.

Decree 277/2022 was regulated by means of Decree 484/2022, published in the Official Gazette on 16 August 2022. The Decree created the Foreign Exchange Market Access Regimes for Incremental Oil Production and Natural Gas Production and provides flexibility to access the foreign exchange market for a percentage of the amount of the incremental production volume or the incremental injection volume, as the case may be. The Regulation establishes the general conditions for accessing the benefit both for E&P companies and their direct suppliers and/or associated third parties.

By means of Communication ‘A’ 7556, the Central Bank of Argentina established new regulations applicable to resident individuals or legal entities that are grain producers and/or grain traders, and do not export on their own account.

By means of Communication “A” 7532, the Central Bank of Argentina established new restrictions regarding access to the foreign exchange market for the payment of imports of goods and the payment of imports of services to unrelated counterparties, among others.

The Argentine Central Bank issued Communication “A” 7518, which provides some flexibility on the obligation to settle in the official foreign exchange market proceeds related to exports of certain services, both for individuals and legal entities.

Today the Central Bank of the Argentine Republic (“CBAR”) issued Communication “A” 6776 clarifying certain aspects of the new exchange control regime established by Executive Decree No. 609/2019 and Communication “A” 6770 issued by the CBAR. The main clarifications made are the following: i. Export of Goods: The maximum repatriation…